UK - Tackling the problem of retired women living in poverty is not best served by changing pension schemes in their favour, according to the actuarial profession.
The Institute of Actuaries said the government should instead address the underlying problems of discrimination they suffer.
IoA president Jeremy Goford said: “The government and others must recognise the value of occupational pensions is dependent on employment.”
He explained occupational pension schemes are indirectly biased against women for as long as women are discriminated against in employment through lower wages.
The remarks were made in response to the House of Lords’ Select Committee on Economic Affairs’ Inquiry into the economics of an ageing population.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers